berg80
Diamond Member
- Oct 28, 2017
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Former President Donald Trump was accused in a lawsuit on Wednesday of trying to “drastically dilute” the value of stock shares in his social media company held by the firm’s co-founders, potentially depriving them of hundreds of millions of dollars in profits.
The partnership, United Atlantic Ventures, alleges that Trump Media & Technology Group engaged in “wrongful 11th hour … maneuvering” to dilute UAV’s minority stake in the media company, a court filing says.
The Delaware Chancery Court lawsuit comes in advance of the planned merger of TMTG with a shell company called Digital World Acquisition Corp., which would result in the shares of the combined entity being publicly traded.
If DWAC shareholders approve the merger next month, Trump’s 90% stake in TMTG could be valued at more than $3 billion, given DWAC’s current share price.
www.cnbc.com
Wait......what........Trump is trying to screw people he is in business with! Of course he is.
The partnership, United Atlantic Ventures, alleges that Trump Media & Technology Group engaged in “wrongful 11th hour … maneuvering” to dilute UAV’s minority stake in the media company, a court filing says.
The Delaware Chancery Court lawsuit comes in advance of the planned merger of TMTG with a shell company called Digital World Acquisition Corp., which would result in the shares of the combined entity being publicly traded.
If DWAC shareholders approve the merger next month, Trump’s 90% stake in TMTG could be valued at more than $3 billion, given DWAC’s current share price.
Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal
A merger by Trump's social media company could net him billions of dollars, a potential lifeline as he faces more than $500 million in civil judgments.
www.cnbc.com
Wait......what........Trump is trying to screw people he is in business with! Of course he is.
